Also found this on LSNJLAW - Understanding Your Security Deposit:
The law also says that if the landlord does not put the security money in a proper bank account, or does not give a proper written notice to the tenant every time the law says he or she has to, then the tenant can give a...
Then what is this law for? It literally states
"If the person receiving a security deposit fails to invest or deposit the security money in the manner required under this section or to provide the notice or pay the interest to the tenant as required under this subsection, the tenant may give...
Moved in July 2010 on a month to month basis. 2 family home that owner does not occupy.
The house we live in is being foreclosed on. We have not yet received notice that the owner (whom we see on a regular basis) has technically lost the house but we did receive paperwork from lawyers asking...